International Contemporary Art Foundation Inc
International Contemporary Art Foundation Inc. faces severe financial instability with persistent deficits and declining assets.
EIN: 201680864 · Louisville, KY · NTEE: A50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4K |
| Total Expenses | $22K |
| Program Spending | 60% |
| Net Assets | $490K |
| Transparency Score | 25/100 |
Is International Contemporary Art Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
International Contemporary Art Foundation Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About International Contemporary Art Foundation Inc
International Contemporary Art Foundation Inc (EIN: 201680864) is a nonprofit organization based in Louisville, KY, classified under NTEE code A50. The organization reported total revenue of $4K and total assets of $481K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of International Contemporary Art Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
International Contemporary Art Foundation Inc is a micro nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -25.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3K |
| Total Expenses | $22K |
| Surplus / Deficit | $-19,015 |
| Total Assets | $494K |
| Total Liabilities | $4K |
| Net Assets | $490K |
| Operating Margin | -554.9% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 264.1 months |
Financial Health Grade: B
In 2023, International Contemporary Art Foundation Inc reported a deficit of $19K with expenses exceeding revenue, holds 264.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), International Contemporary Art Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -25.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +640.2% | +1.1% | -3.7% |
| 2022 | +534.2% | +0.5% | -4.1% |
| 2021 | -75.3% | -11.3% | -4.0% |
| 2020 | -96.1% | +14.2% | -8.1% |
| 2019 | +32.7% | -82.2% | -73.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates International Contemporary Art Foundation Inc with a Mission Score of 25 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, International Contemporary Art Foundation Inc allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $19K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated, which is a positive for resource allocation but does not mitigate the organization's overall financial struggles.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of International Contemporary Art Foundation Inc's IRS 990 filings:
- Persistent and significant operating deficits (e.g., $3,427 revenue vs. $22,442 expenses in 2023).
- Dramatic decline in assets over time (from $2.7M in 2011 to $0.49M in 2023).
- Revenue consistently far below expenses for over a decade.
- Long-term financial sustainability is highly questionable.
Strengths
The following positive indicators were identified for International Contemporary Art Foundation Inc:
- No reported officer compensation, indicating a volunteer-led or minimally compensated leadership.
- Consistent filing of IRS 990 forms, demonstrating a commitment to regulatory compliance.
Frequently Asked Questions about International Contemporary Art Foundation Inc
Is International Contemporary Art Foundation Inc a legitimate charity?
International Contemporary Art Foundation Inc (EIN: 201680864) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 25/100. It has 10 years of IRS 990 filings on record. Total revenue: $4K. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does International Contemporary Art Foundation Inc spend its money?
International Contemporary Art Foundation Inc directs 60% of its spending to programs and services. Fundraising costs 10%. This falls below the 65% benchmark.
Are donations to International Contemporary Art Foundation Inc tax-deductible?
International Contemporary Art Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201680864). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of International Contemporary Art Foundation Inc's spending goes to programs?
International Contemporary Art Foundation Inc directs 60% to programs, 10% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does International Contemporary Art Foundation Inc compare to similar nonprofits?
With a transparency score of 25/100 (Poor), International Contemporary Art Foundation Inc is below average for NTEE category A50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is International Contemporary Art Foundation Inc located?
International Contemporary Art Foundation Inc is headquartered in Louisville, Kentucky and files with the IRS under EIN 201680864. It is classified under NTEE code A50.
How many years of IRS 990 filings does International Contemporary Art Foundation Inc have?
International Contemporary Art Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4K in total revenue.
Is International Contemporary Art Foundation Inc. a good charity?
Based on the provided financial data, the organization exhibits significant financial instability with persistent operating deficits and a substantial decline in assets over the past decade. While officer compensation is 0%, the overall financial health raises concerns about its long-term viability and ability to effectively fulfill its mission.
Why are the assets declining so rapidly?
The assets have declined from $2,766,461 in 2011 to $493,937 in 2023. This rapid decline is primarily due to the organization consistently spending significantly more than its revenue, using its existing assets to cover operational expenses. For example, in 2011, expenses were $514,423 against revenue of $119,955, resulting in a large deficit that would have been covered by assets.
What is the organization's plan to address its financial deficits?
The provided IRS 990 data does not detail the organization's strategic plans to address its consistent financial deficits. However, the persistent negative net income suggests that current strategies are insufficient to achieve financial sustainability.
Filing History
IRS 990 filing history for International Contemporary Art Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), International Contemporary Art Foundation Inc's revenue has declined by 97.1%, moving from $120K to $3K. Total assets decreased by 82.1% over the same period, from $2.8M to $494K. Total functional expenses fell by 95.6%, from $514K to $22K. In its most recent filing year (2023), International Contemporary Art Foundation Inc reported a deficit of $19K, with expenses exceeding revenue. The organization holds $4K in liabilities against $494K in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $490K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3K | $22K | $494K | $4K | — | — |
| 2022 | $463 | $22K | $513K | $4K | — | View 990 |
| 2021 | $73 | $22K | $535K | $4K | — | View 990 |
| 2020 | $296 | $25K | $557K | $4K | — | — |
| 2019 | $8K | $22K | $606K | $28K | — | View 990 |
| 2015 | $6K | $122K | $2.3M | $0 | — | View 990 |
| 2014 | $17K | $108K | $2.4M | $0 | — | View 990 |
| 2013 | $13K | $138K | $2.5M | $0 | — | View 990 |
| 2012 | $6K | $186K | $2.6M | $0 | — | View 990 |
| 2011 | $120K | $514K | $2.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3K, expenses of $22K, and assets of $494K (revenue +640.2% year-over-year).
- 2022: Revenue of $463, expenses of $22K, and assets of $513K (revenue +534.2% year-over-year).
- 2021: Revenue of $73, expenses of $22K, and assets of $535K (revenue -75.3% year-over-year).
- 2020: Revenue of $296, expenses of $25K, and assets of $557K (revenue -96.1% year-over-year).
- 2019: Revenue of $8K, expenses of $22K, and assets of $606K (revenue +32.7% year-over-year).
- 2015: Revenue of $6K, expenses of $122K, and assets of $2.3M (revenue -65.2% year-over-year).
- 2014: Revenue of $17K, expenses of $108K, and assets of $2.4M (revenue +24.4% year-over-year).
- 2013: Revenue of $13K, expenses of $138K, and assets of $2.5M (revenue +128.9% year-over-year).
- 2012: Revenue of $6K, expenses of $186K, and assets of $2.6M (revenue -95.1% year-over-year).
- 2011: Revenue of $120K, expenses of $514K, and assets of $2.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for International Contemporary Art Foundation Inc:
Data Sources and Methodology
This transparency report for International Contemporary Art Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.